Daijiworld Media Network – Mumbai

Mumbai, Jun 23: Shares of Ola Electric Mobility plunged 6% on Monday, touching an all-time low of Rs 43.20 on the Bombay Stock Exchange (BSE), following a significant block deal involving 0.8% of the company’s equity. Shares worth approximately ?107 crore were exchanged, although the identities of the buyers and sellers remain undisclosed.

The latest dip comes shortly after Hyundai Motor India offloaded 14.22 cr shares — amounting to a 3.23% stake — earlier this month at Rs 51.40 apiece. As of March 2025, Hyundai’s stake had dropped to 2.47%.

The sharp decline in share price also reflects mounting investor concerns over the company’s financial performance. Ola Electric posted a net loss of Rs 870 crore in Q4 FY25, more than doubling from Rs 416 cr in the same quarter last year. Revenue from operations also nosedived by 62% year-on-year to Rs 611 cr. The company’s electric vehicle registrations fell over 52% to 56,760 units, while deliveries slipped to 51,375 units in the quarter.

Despite the setbacks, Ola Electric remains optimistic. “With a robust product roadmap, vertical integration and R&D focus, and strong distribution and service infrastructure, we are well positioned to drive the next phase of EV adoption in India across both scooters and motorcycles,” the company stated.

Since its stock market debut on August 9, 2024, Ola Electric’s shares have dropped over 43% from its IPO issue price of Rs 76 and are down 72% from its 52-week high of Rs 157.50. Year-to-date, the stock has shed nearly 49%.

Out of eight analysts tracking the company, three recommend a ‘buy’, two suggest a ‘hold’, while three advise a ‘sell’. Bloomberg data indicates the average 12-month price target implies just a 2.3% upside.

A subsidiary of ANI Technologies, Ola Electric is one of India’s leading manufacturers of electric two-wheelers, known for its S1 series. The company is also working on entering the electric motorcycle segment as part of its long-term strategy for sustainable mobility.